The submission form of returns, of self-employed individuals is roughly the same as the form of the salaried employee. From the additional information requested; the following are particularly important:
Part 6 – Other Information
■ Α – Other collections: It’s mandatory that this part is completed and any amounts that have been collected (but are not taxed), should be declared as is: i.e. donations, lotteries, etc. Amounts which have been donated by the taxpayer are also declared.
■ Β – Medium used for invoicing and billing receipts: This part is also mandatory. The medium of invoicing is to be marked with an X in the appropriate box.
■ C – Information from books and records when audited accounts are not being prepared: This part is completed by self-employed persons who have not prepared any audited accounts; and have a turnover of up to € 70.000. However, it is not necessary to be completed by partners.
■ D – Determination of taxable income: Is completed by self-employed persons with a turnover of up to € 70.000 who have not prepared audited accounts. However it is not necessary to be completed by partners.
Time of submission and audited accounts
The taxpayer must submit the accompanying form along with the income statement, in accordance with the annual turnover. For a turnover below € 70.000, the I.R. 1 form should be submitted as usual, for self-employed persons who do not prepare audited accounts, giving them the ability to provide the self-assessment statement, to the respective District Offices Collection of Taxes, for the year indicated; paying at the same time the appropriate amount of tax declared on, or before June 30, 2011.
It is noted that the maintenance of accounting books and records, and the issuing of invoices and receipts is required, and that the Director of IRD has the right to request submission of evidence in order to identify the subject of the tax.
For turnover exceeding the € 70.000, the maintenance of accounting books and records, and the preparation of audited accounts is mandatory. The statements of the I.R. 1 and I.R.1 LOG form should be submitted until December 31, 2011. Moreover, the payment through self-assessment is to be submitted until August 1st, 2011.
